Khan Market, India’s most expensive high street is owned by…, the rent here is Rs 19,330 per square foot, located in…

New Delhi: Delhi’s Khan Market changed into no longer too long within the past ranked as the 22nd most costly retail road on this planet. Situated in a single in all India’s most costly areas, the Khan Market sits lawful within the center of Lutyen’s Delhi, no longer removed from the embassies, shut to Parliament, the ministries, and government offices. The market provides a extensive option of world brands enjoy Vero Moda, Rosso Brunello, Ritu Beri, Puma, Amrapali, Anokhi, Adidas and Clarks. The guests also discover bookstores enjoy Bahri Sons and Faqir Chand which bear stood here from the time the market got here up.

Among the many most neatly-most in type eateries here is the retro-note The Big Chill Café, the success of which led its owners, Aseem Grover and Fawzia Ahmed, to also begin an queer — and substandard — bakery that goes by the title of The Big Chill Cakery. The market also provides eateries enjoy Khan Chacha, infamous for its tikka and kebab rolls, which started off as a gap within the wall but is now a burly-fledged first-flooring restaurant.

Per the thirty fourth edition of the ‘Major Streets Across the World’ file by Cushman & Wakefield, Khan Market is the most costly retail market in India, boasting an annual lease of USD 229 per square foot (Rs. 19,330), reflecting a 7 percent 365 days-on-365 days boost.

Khan Market’s proprietor:

Khan Market is owned by the Executive of India, and many of the outlets here objective on a lease basis. Initially, the monthly lease changed into order at Rs 50 per shop, but costs climbed in 1956 following the Ministry of Rehabilitation’s scheme to allocate outlets at Rs 6,516. Per numerous reviews, the monthly rents of most outlets within the posh market exceed Rs 6 lakh.

When changed into Khan Market established?

Khan Market changed into established in 1951, and is known as after freedom fighter Abdul Jabbar Khan, who is speculated to bear rescued Hindus from Pakistan within the future of the 1947 partition.

Khan Market has witnessed a 7 percent 365 days-on-365 days boost in monthly lease, which is essential better than the realm common of 4.4 percent, according to the file by Cushman & Wakefield. It further added that  Seventy nine out of the 138 areas surveyed globally, reported condominium will increase, with an common condominium boost of 4.4 percent,

Highlighting the significance of Khan Market’s efficiency, Saurabh Shatdal, Managing Director, Capital Markets, and Head of Retail-India at Cushman & Wakefield, successfully-known that the premier market attracts affluent shoppers, solidifying its recognition as a excessive-cease retail hotspot.

“Identified for its curated combine of top fee brands and upscale boutiques, Khan Market attracts affluent shoppers, solidifying its recognition as a excessive-cease retail hotspot. The restricted availability of retail space within the dwelling creates intense competition, pushing condominium values better,” Shatdal mentioned.

There changed into a time when the market had 156 outlets (on the bottom flooring) and 74 residences (on the flooring above). This day, many of the residents bear moved out and 44 restaurants procure quite a lot of these usual residences.

The market remains below tight security with paramilitary personnel guarding all entrances. There are 24 CCTV cameras positioned within the market. Parking is free round the market. Even the 25 parking attendants are trained by the Delhi police. Hawkers and vendors are a strict no.